Company Registration No. 14128365 (England and Wales)
BEDFORD ROW PROPCO LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
LB GROUP
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
BEDFORD ROW PROPCO LTD
CONTENTS
Page
Statement of financial position
2
Notes to the financial statements
3 - 7
BEDFORD ROW PROPCO LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 MAY 2023
- 1 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BEDFORD ROW PROPCO LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 MAY 2023
31 May 2023
- 2 -
2023
Notes
£
£
Fixed assets
Investments
4
100
Current assets
Debtors
5
100
Creditors: amounts falling due within one year
6
(29,870)
Net current liabilities
(29,770)
Net liabilities
(29,670)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(29,770)
Total equity
(29,670)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 February 2024 and are signed on its behalf by:
Hoh Chin Yiep
Director
Company Registration No. 14128365
BEDFORD ROW PROPCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

Bedford Row Propco Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Finance Department Hampton By Hilton, 1 Gower Street, Leeds, United Kingdom, LS2 7BP.

1.1
Reporting period

The financial statements have been prepared for an accounting period not equal to 12 months due to the period being the first set of financial statements prepared by the company. As such, they will not be wholly comparable to future accounting periods.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Heeton Holdings Limited. These consolidated financial statements are available from its registered office, 60 Paya Lebar Road, #08-36 Paya Lebar Square, Singapore 409051.

BEDFORD ROW PROPCO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
1.3
Going concern

The company is in a net current liability position of £29,770 at the balance sheet date, the main creditor being £29,870 due to connected companies, which the ultimate parent undertaking has confirmed in writing to the directors it will not recall until the company is in a position to repay this and for at least 12 months from the date these financial statements are signed.

 

The directors are currently looking for new opportunities to fully start up operations for the company. The directors will continue this search and have no plans to dissolve the company in the next 12 months.

 

The directors have considered the forecasted future operations of the company and that the ultimate parent undertaking has confirmed to provide continuing financial support to the company, and have concluded that the company will have adequate resources to continue in business for the foreseeable future, being at least 12 months from the date of approval of these financial statements. The directors remain positive that the industry will recover within the foreseeable future as the UK economy reopens. Therefore, the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BEDFORD ROW PROPCO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 5 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

BEDFORD ROW PROPCO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2023
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
4
4
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
100
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 24 May 2022
-
Additions
100
At 31 May 2023
100
Carrying amount
At 31 May 2023
100

During the period, the company acquired 100% of the share capital of Bedford Row Opco Limited, a dormant company.

5
Debtors
2023
Amounts falling due within one year:
£
Other debtors
100
BEDFORD ROW PROPCO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
£
Other creditors
29,870

Heeton Holdings Limited, a connected company, has agreed to provide continuing financial support to the company and guarantee those intercompany balances due from the company to other group companies. These balances are included in other creditors and amount to £29,870 at year end.

7
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
100
100
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Shaun Roberts
Statutory Auditor:
LB Group (Colchester)
9
Directors' transactions

There were no guarantees with the directors in the period.

10
Parent company

The immediate parent of the company is Heeton Capital Pte. Ltd, a company incorporated in Singapore.

 

The ultimate controlling parent of the company is Heeton Holdings Limited, a company incorporated in Singapore.

 

The smallest group into which Bedford Row Propco Ltd is consolidated is Heeton Holdings Limited.

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